Forecasts & Analysis | , Page 3
Gold Price Forecast – Gold Markets Reach Even Higher
Gold markets rallied rather significantly during the trading session on Friday, as the fear out there continues to get worse. At this point, the market is likely to continue to look at pullbacks as trading opportunities.
U.S. Dollar Index Futures (DX) Technical Analysis – 99.040 Potential Trigger Point for Downside Acceleration
Based on the early price action and the current price at 99.180, the direction of the March U.S. Dollar Index into the close on Friday is likely to be determined by trader reaction to the minor pivot at 99.200.
NZD/USD Forex Technical Analysis – Close Over .6332 Forms Closing Price Reversal Bottom
Based on the early price action and the current price at .6353, the direction of the NZD/USD into the close on Friday is likely to be determined by trader reaction to the downtrending Gann angle at .6348.
USD/JPY Forex Technical Analysis – Needs to Hold Above 111.580 to Sustain Upside Momentum
Based on the early price action and the current price at 111.734, the direction of the USD/JPY the rest of the session on Friday is likely to be determined by trader reaction to the long-term angle at 111.580. This angle was tested earlier today.
USD/JPY Weekly Price Forecast – US Dollar Breaks Out For The Week
The US dollar broke out to the upside during the trading week, finally clearing the ¥110 level. At this point, the market is likely to see more bullish pressure, but Friday was a bit soft.
GBP/USD Weekly Price Forecast – British Pound Looking for Buyers
The British pound has fallen during most of the week but seems to be paying attention to the 1.29 level as support. Nonetheless, this is a very messy market due to the fact that the US dollar is on the other side of it.
E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Weakens Under 28903, Strengthens Over 29001
Based on the early price action, the direction of the March E-mini Dow Jones Industrial Average the rest of the session on Friday is likely to be determined by trader reaction to an uptrending Gann angle at 29001 and a downtrending Gann angle at 28903.
GBP/JPY Weekly Price Forecast – British Pound Trying to Break Out Against Japanese Yen
The British pound has been pretty bullish during the week against the Japanese yen as we are attacking the ¥145 level. At this point, the market looks likely to break out, especially if we can get some type of “risk on rally.”
EUR/USD Weekly Price Forecast – Euro Trying to Find Bottom at Gap
The Euro initially fell during most of the week but has recovered slightly as it looks like the gap is trying to hold from the weekly chart. That being said though, it’s difficult to imagine getting overly bullish at this point.
AUD/USD Weekly Price Forecast – Australian Dollar Breaks Down
The Australian dollar had a rough week, breaking down below the recent lows, reaching towards the 0.66 handle. However, the market looks as if it is trying to finish the week with a little bit of a bounce, which should only offer more opportunities.